Friday, April 22, 2005

Own Any Google?

Google's Earnings Jump 477% : "Google Inc. yesterday reported that its first-quarter profit more than quadrupled and revenue nearly doubled because of surging online ad sales. The news, disclosed after the close of the regular trading day, sparked a rally in the search engine giant's stock price.

For the three months ended March 31, Google reported profit of $369.2 million ($1.29 a share), up from $64 million (24 cents) in the first quarter last year. Revenue, almost entirely from online advertising on Google and its partner Web sites, increased 93 percent, from $651.6 million to $1.3 billion this year.

Google stock shot up nearly $20 in after-hours trading as share prices pushed above $220. Google shares, which started the week trading at about $185, started rising earlier this week following rival Yahoo Inc.'s positive earnings report, which was released late Tuesday. Google went public in August at a price of $85 a share. "

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